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How much money does a Jiffy Lube franchise make?
2021 Jiffy Lube Median Franchise Sales: $542,589 Based on the median sales provided by Jiffy Lube's franchise locations, at the industry standard of a 5% profit margin it will take around 14 years to recoup your investment.
Are Jiffy Lubes franchised?
Are any existing Jiffy Lube® stores for sale? Since the network is 100% franchise owned and operated, Jiffy Lube International, Inc. is not involved in site sales.
Who owns Jiffy Lube franchise?
Shell Oil CompanyJiffy Lube International, Inc. is an indirect wholly-owned subsidiary of Shell Oil Company.
What is the average cost to start a franchise?
Franchise startup costs can be as low as $10,000 or as high as $5 million, with the majority falling somewhere between $100,000 and $300,000. The price all depends on the industry, location and type of franchise.
How much is a Mr Lube franchise?
I understand the cost of opening a Mr. Lube flagship store is approximately $1,800,000 - $2,200,000. The cash equity requirement of the franchisee is approximately $600,000 - $800,000. Exceptions include conversions of existing automotive stores or the landlord building the shell, both of which may reduce costs.
Is Valvoline a franchise?
Franchise Description: The franchisor is Valvoline Instant Oil Change Franchising, Inc. (VIOCF). Franchisees operate a Valvoline Instant Oil Change service center, a quick-service engine oil change facility which offers chassis lubrication, certain routine maintenance checks and other automotive services.
Is Jiffy Lube owned by Shell Oil?
Headquartered in Houston, Texas, Jiffy Lube® International is a wholly owned, indirect subsidiary of Shell Oil Company. Jiffy Lube service centers are 100% franchise-owned.
Who are Jiffy Lube competitors?
Jiffy Lube's competitors and similar companies include Dent Wizard, Dickinson Fleet Services, Fix Auto and Safelite. Jiffy Lube is an automotive repair services provider.
How many Jiffy Lube in USA?
Jiffy Lube has over 2,000 service centers coast-to-coast with a nationwide database that keeps your service records on file so you can get a quick, consistent and quality experience every time.
What franchise makes the most money?
What is the most profitable franchise to own? According to the Franchise 500 list of 2021, Taco Bell is the most profitable franchise to own. The food chain has been franchising for nearly 6 decades and is still seeking franchises worldwide. As of 2021, they have 7,567 open units.
What is the best and cheapest franchise to open?
What are the cheapest franchises to buy?Cruise Planners. Franchise fee: $10,995. ... Jazzercise. Franchise fee: $1,250. ... Help-U-Sell Real Estate. Franchise fee: $15,000. ... United Country Real Estate. Franchise fee: $8,000 to $20,000. ... Stratus Building Solutions. ... Anago Cleaning Systems. ... JAN-PRO. ... Dream Vacations.
How much does a franchise owner make a year?
According to a survey done by Franchise Business Review involving 28,500 franchise owners, the average pre-tax annual income of franchise owners is about 80,000 dollars.
Is Goodyear a franchise?
About Goodyear AutocareFranchise Details:Founded:1898Industries:Automotive, Service Brands, Auto Brakes, Tire
Who is the CEO of Jiffy Lube?
Steve LedbetterSteve Ledbetter the CEO of Jiffy Lube received an average score of 63 from Jiffy Lube employees.
Who owns Team Car Care?
Wynnchurch CapitalTeam Car Care was acquired by Wynnchurch Capital on Feb 1, 2018 .
How much does it cost to open a grease monkey?
The Initial Franchise Fee for a single Grease Monkey Center is $39,900. If you are a Conversion Owner, the Initial Franchise Fee is $20,000. If you are a veteran or first responder, the Initial Franchise Fee is $29,900.
What is a Jiffy Lube?
Jiffy Lube is the biggest chain of auto maintenance locations with a quick lube change in the country. Though Jiffy Lube’s most popular service is an oil change, it also offers a variety of other auto maintenance services including repairs to the air filtration, air conditioner, transmission, windshield, cooling system, and fuel system.
What is Jiffy Lube's four step plan?
Jiffy Lube uses a signature four step plan when performing an oil change: Change, Inspect, Check/Fill, and Clean. Customers often opt to have other areas of their car checked out while having their oil serviced.
Is Jiffy Lube expanding internationally?
Currently, Jiffy Lube is not expanding internationally, so all franchises must be located in the United States or Canada. All of Jiffy Lube’s locations are owned independently by franchisees.
Who owns the Washburn car service?
Originally, Ed Washburn began franchising car service centers throughout Utah in the 1970s until Jim Hindman, a nursing home tycoon bought out the company. Hindman built the business to about 1,000 shops until Pennzoil bought the company in the ‘90s. The company now has over 2,000 locations and is part of Shell Oil subsidiary.
Is Jiffy Lube a franchise?
Jiffy Lube is listed in the Franchise Directory under the Automotive category. It's also listed in the section for Franchises Under $200,000 .
Why Join Jiffy Lube®?
Jiffy Lube® offers its franchisees award-winning training and dedicated support at the national and individual franchisee level.
What is Jiffy Lube Multicare?
Jiffy Lube Multicare® provides the expanded services customers want and need. Jiffy Lube Multicare® is built on the promise of quick, convenient services through expanded offerings like battery and brake services. With all new service center construction designed for Jiffy Lube Multicare®, you're starting your business with a competitive edge.
How many Jiffy Lube locations are there?
You do not have to doubt the credibility of the Jiffy Lube franchise. To date, they have 2000 locations nationwide. This proves the caliber of the business and the support you can get as a franchisee. And with 35 years of experience under its belt, they sure know how to lead the market.
Where is Jiffy Lube located?
Jiffy Lube started in 1979 and began to offer franchises that same year. To date, they have around 2,095 units and is headquartered in Houston, Texas.
What is The Mr. Appliance Franchise Cost?
For your home and office appliance needs and repairs, there’s only one name you can trust if you’re in the United States or Canada. Mr. Appliance is a reliable company with decades of experience. The company has been offering franchising opportunities since 1996. So, if you want a money-making venture, learn more about Mr. Appliance’s franchise terms and costs.
How long does franchising training last?
The franchisor will hold an initial training period for the franchisees and a manager. However, if it’s an entity or a corporation, a managing owner (at least 10% interest) must undergo training. The location of the training could be held at a franchise store or a support center. Initial training includes the “Franchise Induction Program.” It lasts ten days and can be extended depending on the franchisee.
How often do service center managers need training?
The franchisees and the managers must be able to complete training every five years. If the franchisor believes that there is a need for additional training, they will recommend these to the franchisees.
What is required to operate a franchise center?
The franchisee will need to comply and abide by the Policies and Procedures Manual and Franchise Agreement. The center must be supervised by the franchisee or designated persons approved by the franchisor. The designated persons must undergo the necessary training.
Does Jiffy Lube have credit cards?
You can also offer Jiffy Lube Credit Cards to your clients where they can enjoy more promos and discounts. This includes 6-months of special financing, flexible payment options, and online access to account information.
How much does it cost to buy a Jiffy Lube service center?
If you choose to buy, rather than rent, a service center, Jiffy Lube estimates that the cost to acquire a suitable site might range from $300,000 to over $800,000, and building costs (including soft costs and site costs) for a four-bay service center might range from $700,000 to $900,000; however, costs vary and could easily and substantially exceed this range. Some of Jiffy Lube’s franchisees have spent more than $1 million to buy what they believed to be a good site, and Jiffy Lube has approved these sites for development.
Who purchases Jiffy Lube equipment?
Equipment for a Jiffy Lube service center is normally purchased or leased by the franchisee directly from the manufacturer or some other vendor.
How long does it take for Jiffy Lube to start?
Based on its experience, Jiffy Lube thinks that in markets that are familiar with the quick lube concept (which includes most markets today), the initial phase of operations will be at least six months. For that reason, Jiffy Lubes recommends that your plans include additional funds of at least $45,000.
What is the grand opening of Jiffy Lube?
Typical grand opening expenses include direct mail and media advertising and promotional signage and other materials.
How many bays are there in Jiffy Lube?
The current standard for the construction of a new Jiffy Lube service center building is a four-bay facility. A suitable site should have a frontage of at least 140 feet and a depth of 180 feet.
Does Jiffy Lube have working capital?
Jiffy Lube cannot estimate when, if ever, income from a service center will be enough to meet expenses. Almost invariably, you will need working capital in addition to revenue from the center to cover operating expenses of the service center during its initial phase of operations.
Does Jiffy Lube require insurance?
It is Jiffy Lube’s experience that insurance carriers require new franchisees to pay for one year’s premium in advance, but existing franchisees can often arrange for monthly payments for their new service centers. Insurance costs may vary widely by state and with the experience of the franchisee. 8.
How much does Jiffy Lube franchise cost?
Jiffy Lube requires a 20-year agreement term with a $10,000 initial franchise fee. These are the basic terms that you must agree upon once signing your contract. However, you also have to have a required liquid capital of at least $150,000.
How many Jiffy Lube locations are there?
There are currently over 2,000 operating locations for this company. And it doesn’t seem to be slowing down any time soon.
What services does Jiffy Lube provide?
A few other vehicle services you will find at Jiffy Lube are air filtration service, battery maintenance, and replacement, fuel system cleaning, emission and inspection services, brake and engine repair or replacing, and oil changes for preventative management.
How much royalty does Jiffy Lube charge?
As a franchise owner for Jiffy Lube, you are also responsible for a 4% royalty fee. This fee is ongoing during your entire term and is paid based on your gross sales. After all, you are owning a part of the company; it’s not entirely your own business. So you will have to give some part of your sales towards the company.
What is Jiffy Lube?
Jiffy Lube gives customers the service they deserve to help keep their vehicles running in tip-top shape. Sometimes people feel alone and lost when they experience car problems. Or even when it comes down to routine maintenance.
When did Jiffy Lube start?
Jiffy Lube has been around since the 1970s and has gained the respect of motorists in states all across the US. Because let’s face it; vehicle problems are inevitable. And you need a company that you can trust and depend on to keep your vehicle in the best shape so that you can have something reliable, rather than a lemon.
How often do franchise owners have to go through training?
Franchise owners and managers are all required to go through training every five years to ensure that they are still capable and up to date on how the company is serving their customers.
Who is the franchisor of Jiffy Lube?
Franchise Description: The franchisor is Jiffy Lube International, Inc., a wholly owned subsidiary of Pennzoil-Quaker State Company (dba SOPUS Products). SOPUS Products is a wholly owned subsidiary of parent company, Shell Oil Company, and Shell is a wholly owned subsidiary of Shell Petroleum, Inc. Jiffy Lube service centers offer oil change and lubrication services for cars and light trucks, as well as light repair services and other similar or ancillary products and services, some of which the franchisor requires to be offered and some of which are approved, but optional. Franchisees will be required to strictly comply with the Franchise Agreement and the Policies and Procedures Manual, which together will govern the relationship.
How long is a franchise term?
Term of Agreement and Renewal: The length of the initial franchise term is 20 years.
How often do franchisees have to attend training?
Franchisees and their managers must attend training every five years.
Can a Jiffy Lube franchise be opened outside of the 3 mile ring?
Franchisees won't have any rights of first refusal or similar rights to acquire a new franchise outside of the three-mile ring. Obligations and Restrictions: The service center ...
Does Franchise Direct sell your information?
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Can Jiffy Lube franchisees sell lube only?
That is, franchisees cannot offer major engine overhauls, transmission overhauls, muffler installation, automobile painting, or any other services that are not related to the services approved by Jiffy Lube at the service center. Franchisees cannot sell or offer to perform a lube-only service, or a lube-oil -filter only service, ...
